In the current financial year, Sharp expects an operating profit of 80 billion yen ($786 million), compared with a loss of 146.27 billion yen in the latest year to March 31. The forecast compared with the average 52.9 billion yen profit estimate from 13 analysts surveyed by Thomson Reuters.

Sharp is due to release a three-year rehabilitation plan later on Tuesday as it moves to secure its survival.

In October, the company was rescued by almost $4 billion of emergency loans from lenders including Mizuho Financial Group and Mitsubishi Financial Group. To obtain the financial help, the firm had to mortgage its offices and factories in Japan, including one that makes screens for Apple iPad and latest iPhone.

It also had to agree to trim its workforce by 10,000 people and seek buyers for overseas assets including TV assembly plants in China, Malaysia Poland and Mexico.

Sharp also said on Tuesday it will promote Kozo Takahashi, executive vice president in charge of products, to president.

Takahashi will replace Takashi Okuda, who will take up the chairman's post after only a year on the job. Takahashi's appointment will become effective following approval by shareholders at a meeting on June 25.